With a Brexit deal negotiated and an election on the way, Hamish Baillie, lead manager of Ruffer Investment Company, has increased exposure to domestic UK equities.
Baillie has suggested that UK-specific risks may clear "abruptly", which could lead to UK equities shrugging off their "leper's bell". He has pointed to "absent political noise", a "likely" strengthening of sterling and global bond yields "continuing to rise" as reasons for the increase. Why bother to invest in UK equities? However, despite the "storm clouds" clearing, with a Brexit deal looking more likely, seeming "headway" in the US-China trade war and the US Federal Reserve "providing enough liquidity to markets", a recession is still on the cards. The New York Federal Reser...
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